RDP 2010-02: Learning in an Estimated Small Open Economy Model Equation

Γ 3 = [ 0 1 0 1 × 6 1 0 1 × 7 0 1 × 8 0 1 × 8 0 1 × 8 0 1 × 3 − ( 1 + φ ) 0 − 1 0 1 × 2 0 − 1 0 1 × 6 0 1 × 8 0 1 × 8 0 1 × 8 0 1 × 8 0 1 × 7 1 0 1 × 5 ( 1 − ρ d ) 1 − η ( 1 + η ) γ 0 1 × 2 0 1 × 8 0 1 × 6 1 0 0 1 × 4 1 0 1 × 3 ] ; Γ 4 [ M 3 × 3 0 1 × 3 ρ a 0 1 × 4 0 1 × 4 ρ s 0 1 × 3 0 1 × 5 ρ d 0 1 × 2 0 1 × 6 ρ m 0 0 1 × 8 ] MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeu4KdC0aaS baaSqaaiaaiodaaeqaaOGaeyypa0ZaamWaaeaafaqaaeaefaaaaaaa aaqaaiaaicdaaeaacaaIXaaabaGaaGimamaaBaaaleaacaaIXaGaey 41aqRaaGOnaaqabaaakeaaaeaaaeaacaaIXaaabaGaaGimamaaBaaa leaacaaIXaGaey41aqRaaG4naaqabaaakeaaaeaaaeaaaeaacaaIWa WaaSbaaSqaaiaaigdacqGHxdaTcaaI4aaabeaaaOqaaaqaaaqaaaqa aaqaaiaaicdadaWgaaWcbaGaaGymaiabgEna0kaaiIdaaeqaaaGcba aabaaabaaabaaabaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaGio aaqabaaakeaaaeaaaeaaaeaaaeaacaaIWaWaaSbaaSqaaiaaigdacq GHxdaTcaaIZaaabeaaaOqaaiabgkHiTmaabmaabaGaaGymaiabgUca RiabeA8aQbGaayjkaiaawMcaaaqaaiaaicdaaeaacqGHsislcaaIXa aabaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaGOmaaqabaaakeaa caaIWaaabaGaeyOeI0IaaGymaaqaaiaaicdadaWgaaWcbaGaaGymai abgEna0kaaiAdaaeqaaaGcbaaabaaabaGaaGimamaaBaaaleaacaaI XaGaey41aqRaaGioaaqabaaakeaaaeaaaeaaaeaaaeaacaaIWaWaaS baaSqaaiaaigdacqGHxdaTcaaI4aaabeaaaOqaaaqaaaqaaaqaaaqa aiaaicdadaWgaaWcbaGaaGymaiabgEna0kaaiIdaaeqaaaGcbaaaba aabaaabaaabaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaGioaaqa baaakeaaaeaaaeaaaeaaaeaacaaIWaWaaSbaaSqaaiaaigdacqGHxd aTcaaI3aaabeaaaOqaaiaaigdaaeaaaeaaaeaaaeaacaaIWaWaaSba aSqaaiaaigdacqGHxdaTcaaI1aaabeaaaOqaamaabmaabaGaaGymai abgkHiTiabeg8aYnaaBaaaleaacaWGKbaabeaaaOGaayjkaiaawMca amaalaaabaGaaGymaiabgkHiTiabeE7aObqaamaabmaabaGaaGymai abgUcaRiabeE7aObGaayjkaiaawMcaaiabeo7aNbaaaeaacaaIWaWa aSbaaSqaaiaaigdacqGHxdaTcaaIYaaabeaaaOqaaaqaaaqaaiaaic dadaWgaaWcbaGaaGymaiabgEna0kaaiIdaaeqaaaGcbaaabaaabaaa baaabaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaGOnaaqabaaake aacaaIXaaabaGaaGimaaqaaaqaaaqaaiaaicdadaWgaaWcbaGaaGym aiabgEna0kaaisdaaeqaaaGcbaGaaGymaaqaaiaaicdadaWgaaWcba GaaGymaiabgEna0kaaiodaaeqaaaGcbaaabaaaaaGaay5waiaaw2fa aiaacUdacqqHtoWrdaWgaaWcbaGaaGinaaqabaGcdaWadaqaauaaba qagmaaaaqaaiaad2eadaWgaaWcbaGaaG4maiabgEna0kaaiodaaeqa aaGcbaaabaaabaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaG4maa qabaaakeaacqaHbpGCdaWgaaWcbaGaamyyaaqabaaakeaacaaIWaWa aSbaaSqaaiaaigdacqGHxdaTcaaI0aaabeaaaOqaaiaaicdadaWgaa WcbaGaaGymaiabgEna0kaaisdaaeqaaaGcbaGaeqyWdi3aaSbaaSqa aiaadohaaeqaaaGcbaGaaGimamaaBaaaleaacaaIXaGaey41aqRaaG 4maaqabaaakeaacaaIWaWaaSbaaSqaaiaaigdacqGHxdaTcaaI1aaa beaaaOqaaiabeg8aYnaaBaaaleaacaWGKbaabeaaaOqaaiaaicdada WgaaWcbaGaaGymaiabgEna0kaaikdaaeqaaaGcbaGaaGimamaaBaaa leaacaaIXaGaey41aqRaaGOnaaqabaaakeaacqaHbpGCdaWgaaWcba GaamyBaaqabaaakeaacaaIWaaabaGaaGimamaaBaaaleaacaaIXaGa ey41aqRaaGioaaqabaaakeaaaeaaaaaacaGLBbGaayzxaaaaaa@EB0E@